Energy
OPEC: Gas is vital to Nigeria’s future
The Organisation of Petroleum Exporting Countries (OPEC) says gas remains vital to Nigeria’s future in the global oil and gas sector. The OPEC Secretary General, Mohammad Barkindo, disclosed this on Monday in Abuja, at the pre-summit conference on “Decade of Gas”. He said that the move of the country to develop its huge gas deposit was a step in the right direction. “Gas is vital to Nigeria’s future, as is oil, and both will be fuels of choice globally for the foreseeable future and instrumental in facilitating the energy transition,” he said. The secretary-general said that the ‘Decade of Gas’ from 2021 to 2030 was likely to place Nigeria at the forefront of the vital global industry. Barkindo commended President Muhammadu Buhari’s effort as Head of Nigeria’s Delegation to OPEC, in the or...
Court declares SEC sanctions against Oando management null, void
Wikipedia Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano, in a suit filed against the Securities and Exchange Commission (SEC) for overreaching its powers. Justice A. Lewis Allagoa presiding over the ruling dismissed the regulators preliminary objection and granted all the reliefs sought by the Oando Shareholders. The FHC Kano dismissed SEC’s objection on the basis that the shareholders’ claims fall under their rights as shareholders according to the Companies and Allied Matters Act (CAMA) and is therefore not a capital markets i...
Nigerian government mulls TCN’s unbundling, partial concession to boost power supply
The federal government is considering the unbundling and partial concession of the Transmission Company of Nigeria (TCN) to boost its efficiency in the government’s bid to improve power supply. Director, Energy, Bureau of Public Enterprises (BPE), Mr. Yunana Malo, said during the March edition of “the Electricity Hub” conversation series on power that the National Council on Privatisation (NCP) had directed that a proper strategy should be mapped out for the unbundling of TCN. He stated that the government believed that all the players in the energy value chain should be able to align with the needs of the power sector seamlessly, adding that the right environment is being created for the transmission component to match generation and distribution. Malo said data was key to making decision...
TUC opposes sale of Port Harcourt refinery
File Photo The Trade Union Congress (TUC) is opposed to the sale of the Port Harcourt Refinery as canvassed by many Nigerians, its secretary-general, Musa Lawan, has said. The Federal Executive Council last week approved $1.5 billion (about N600 billion) for the rehabilitation of the 210,000 barrels per day refinery. The FEC approved the amount at its virtual meeting presided by President Muhammadu Buhari. The approval came amidst a controversial price increase in the pump price of petrol that was later reversed. Although Nigeria has four refineries, all government-owned, it currently imports virtually all its refined petroleum products. The approval for the Port Harcourt Refinery was greeted with mixed feelings as the country in the past spent billions of dollars on refinery maintenance w...
Niger community embark on protest over lack of electricity supply
File Photo The Hausawa community in Sabon-Dikko, Gurara Local Government Area of Niger State yesterday protested against the lack of electricity and other basic social amenities in the area. The community claimed that for one year after the transformer they bought through community efforts got burnt beyond repairs, and requests made to the Abuja Electricity Development Company (AEDC) for its replacement, the area has remained without electricity. The community, which claimed to have one million population, also decried the absence of educational institutions, health facility and potable in the area. In a protest letter sent to the state Governor, Alhaji Abubakar Sani Bello, the Senator representing the area in the National Assembly, Alhaji Mohammed Sani Musa, and the AEDC, the community la...
DPR seals 16 filling stations over ‘irregularities’ in Adamawa
The Department of Petroleum Resources (DPR) has sealed off 16 petroleum stations over alleged irregularities in Adamawa. Sadiq Ibraheem, DPR Operation Controller in Adamawa, disclosed this to newsmen on Monday in Yola. He said that the exercise was conducted during the weekend as part of DPR’s routine surveillance. “We were able to inspect 43 filling stations in Jimeta, Yola, Numan and Maiha and out of which 16 were sealed for various offences. “The offences ranged from sales above official pump price, lack of safety facilities displayed and we discovered some stations were slightly under dispensing,” he said. According to him, the sealed stations have to pay certain fees to the Federal Government and rectify their pump price to official price before they could be allowed to operate. He ad...
Shell donates 330 PPEs to FRSC in Rivers
File Photo The Federal Road Safety Corps (FRSC), Rivers Command, said it had received over 330 Personal Protective Equipment (PPEs) donated by Shell Nigeria to combat the COVID-19 pandemic. Rivers FRSC Sector Commander, Salisu Galadunci, said in a statement that the PPEs comprised of 170 pieces of nose masks, 150 pieces of reflective jackets and body temperature gauges. The sector commander said that the items were presented by Shell Nigeria officials led by its Head, Sponsorship and Social Investment, Mrs Anike Kakayor. “The team has expressed delight in the way and manner in which the FRSC Rivers carries out its operational mandates of safeguarding lives on the highways. “The team also commended our aggressive enlightenment campaigns at motor garages and on the various media platforms. “...
Port Harcourt DisCo insists NMMP meters not for sale
File Photo The Port Harcourt Electricity Distribution Company (PHED) says it is not selling to customers, meters provided free to electricity users by the Federal Government. PHED’s Acting Manager of Corporate Communications, Mrs Chioma Aninwe, disclosed this in a statement in Port Harcourt on Monday. The Federal Government had in October 2020 introduced the National Mass Metering Programme (NMMP), to eliminate arbitrary estimated bills that were given to unmetered customers by Distribution Companies (Discos). Through the scheme, the Central Bank of Nigeria (CBN) provided financing support to the Discos for the procurement of meters for customers from local meter manufacturers. Aninwe disclosed in the statement that “Our attention has been drawn to a publication alleging that PHED is direc...
Niger Delta agitators urges South South governors to work with Senator Akpabio to develop region
A coalition of Niger Delta agitators, weekend, called on governors of South South to work with Minister of Niger Delta Affairs, Senator Godswill Akpabio, to develop Niger Delta region and its people. The group meanwhile, called out governors of Niger Delta states, saying recent revelation by Niger Delta Development Commission, NDDC, that they (governors) collected N100 million each as Covid-19 palliative has exposed their hypocrisy. Chairman, Senate Committee on Ethics, Privileges and Public Petitions, Senator Patrick Ayo Akinyelure, last week, told reporters in Abuja that NDDC officials told the committee that each of the nine governors of the Niger Delta states got N100 million as Covid-19 palliatives. Coordinator of the 21st Century Youths of Niger Delta and Agitators with Conscience, 2...
IPMAN impounds trucks transporting adulterated petrol in Bayelsa
Taskforce personnel attached to the Bayelsa State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have apprehended three tankers suspected to be transporting adulterated Premium Motor Spirit (PMS) from an unidentified source into the state. Bayelsa State Coordinator of IPMAN, Mr. Bello Bina, who confirmed the development to journalists on Saturday, said the trucks were impounded along the Sagbama section of the East-West road. He alleged that some unidentified policemen were currently trying to frustrate the effort of the task force by insisting that the suspected adulterated products are owned by a highly influential person. He said when the effort of the policemen failed, an unidentified man called him on the phone to plead with him to take some financial g...
Official: TCN completes new transmission tower in Lagos
The Transmission Company of Nigeria (TCN) says it has completed the construction of a new transmission tower in Ajah, Lagos state. The TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, disclosed this in a statement in Abuja on Thursday. Mbah said that TCN has also strung the old and a new 330 kilovolts Egbin – Ajah transmission lines, adding that both lines have been energised. She said that the new line increased the transmission lines capacity on that line route by 600 Megawatts (MW) bringing it to a total of 1,200MW. “The old line was re-energised on March 13 while the new line was energised on March 15. “Prior to resuscitation of the second Egbin-Ajah Transmission Line, the Aja 330/132/33kV Substation operated through a single circuit 330kV transmission line. “Within the period, t...
DPR allays fears of fuel scarcity during easter
File Photo Ahead of the Easter festival coming up by the end of March, the Department of Petroleum Resources (DPR) has reassured Nigerians that there will be no fuel scarcity, urging them to desist from panic buying. It also stated that government has put a formidable policy in place to ensure free flowing supply and distribution of petroleum products during the festivity. Addressing journalists after going round on routine surveillance to monitor and ensure that all retail outlets are complying with the recommended price of between N162 to N165 per litre, the Jos office Operations Controller of DPR, Mr. Stanley Ngene, said: “I can assure you that every necessary precaution is being taken by the government to ensure that we do not go back to the days of fuel scarcity.” Ngene said that the ...
